Happy Birthday Medicare!
What better way for Medicare to celebrate its 50th birthday than with the largest population, the “baby boomers” becoming eligible for Medicare? On July 30, 1965, President Johnson signed legislation to establish Medicare for the elderly and Medicaid for low-income adults, children, pregnant women, and people with disabilities.
Before President Johnson signed Medicare into law only about half of those over 65 had health insurance. In the 50 years since then, life expectancy has risen by more than nine years to a little over 79 years. Today Medicare covers about 17 percent of our population, over 55 million people, including those other than the elderly whom the private insurance has abandoned.
Medicare has important lessons for our entire health care system. The program’s rapid rollout flowed from simplicity of its basic principle: virtually everyone 65 and older was automatically eligible for government health insurance.
Patients with traditional Medicare go to the doctors and hospitals of their choice. There are no limited networks! Traditional Medicare spends about 2 percent on administration and overhead. Medicare is efficient and frugal.
Medicare brings an important service to our nations seniors and will continue to do so over the next 50 years. SFG wants you to know how the Medicare system works and for you to also know what benefits are you are eligible for. To talk to a Senior Benefits Specialist call SFG at 865-777-0153! Medicare is complicated let us make it EASY! We are here for you!